From today, all registered individual tax practitioner will have to complete a proof of identity (POI) process when they complete their annual declaration.
The POI process starts for those tax practitioners whose annual declarations are due by 1 December 2018, with failure to comply with the requirements possibly resulting in the termination of registrations.
The POI process can be done online under the Document Verification Service, a national online system that allows authorised agencies to verify certain identity documents issued by a range of Australian, State or Territory government agencies, or in person at Australia Post.
Further, as part of enhanced security measure, tax practitioners will be required to create a new TPB username and password when they log into the “My Profile” page on the TPB website.
According to the TPB, this will establish two-factor authentication to provide an additional layer of security when establishing or confirming account details.
“These measures are likely to be familiar to you from your work environment or your personal online interactions. They will provide you with greater security and control when managing your interactions with the TPB,” said the TPB.
The security measures come as awareness around cyber security increases, with accountants earmarked as key targets for cyber criminals for their “treasure trove” of vital information.
Further, in August this year, the Office of the Australian Information Commissioner (OAIC) published its first full quarterly statistical information about notifications received under the Notifiable Data Breaches (NDB) scheme, since it commenced on 22 February 2018, with the accounting and financial industries featuring in the top-three industry sectors to report data breaches.
Jotham Lian is the news editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.
With a focus on breaking news and exclusive analysis, Jotham keeps Accountants Daily readers up to date with company moves, tax updates and essential business and client strategy.
Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.